Umpqua lifts quarterly dividend by 50 percent

PORTLAND, Ore. (AP) -- Umpqua Holdings is raising its quarterly dividend by 50 percent to 15 cents per share and also plans to pay a special dividend.

The second-quarter dividend will be paid July 15 to shareholders of record June 28.

Umpqua Holdings Corp. also said Monday that its board approved a special dividend of 5 cents per share. That dividend will be paid on June 14 to shareholders of record on May 31.

Umpqua Holdings is the parent company of Umpqua Bank, a community bank based in Oregon that has locations between San Francisco and Seattle, along the Oregon and Northern California Coast, Central Oregon and Northern Nevada. It also owns Umpqua Investments Inc., a retail brokerage subsidiary.

Shares of Umpqua Holdings, based in Portland, Ore., gained 26 cents to $13.77 in afternoon trading.